Since the summer of 2017 we have seen the Bank of Canada Prime interest rate increase five times – from a low of 2.7% to the current 3.95%. This means that most homeowners with variable rate mortgages have seen their mortgage payment increase five times in eighteen months! At the same time, five-year fixed mortgage...Read More

In this article we’ll look at the 5 most popular questions when it comes to consumer proposal: How does a Consumer Proposal work Who is eligible for a Consumer Proposal Will my spouse be affected by my Consumer Proposal OSAP & Consumer Proposals Second Time Proposals How does a Consumer Proposal Work Consumer Proposals (“proposal”)...Read More

As a first time buyer this is your first rodeo, but with the help of experts – your Real Estate agent, your Mortgage Specialist, heck… even your been-there-done-that parents – the journey can be a whole lot easier. This article provides key tips, advice and everything else you’ll need to be aware of on your...Read More

Pay off consumer proposal early – led to best mortgage possible. It seems to be happening more often these days where chartered banks might not renew the mortgages of borrowers who included the bank’s credit cards and lines of credit in a consumer proposal or personal bankruptcy. Earlier this year Cindy and Miles Baird were in distress...Read More

  Reverse Mortgages (55 yrs+) This is an idea whose time is now. Factor together our aging population, exploding home values, and the high cost of living, there is so much home equity that seniors age 55 and over can tap into. The list of possible uses is limited only by your imagination: Pay off debt Need...Read More

You should open an account with CRA These days dealing with the Canada Revenue Agency is so much easier if you take advantage of their online services. They have a portal called Your Account, which contains an incredible amount of your personal past and current tax related information, all in one place. In the mortgage...Read More

Thirty ways to save money In my financial planning and credit counseling businesses I get to see how people spend their hard earned money. It is always mystifying how so many will complain about there never being enough money to go around, yet to me they seem to be wasting money on stuff they don’t...Read More

Mortgage portability can be a borrower’s lifeline A buyer called me recently to pre-approve him for a $490,000 mortgage as he is upgrading the family home. Today he  has a $250,000 mortgage  with a major chartered bank.  I am able to comfortably approve him with practically any lender, but I suggested he first go back...Read More